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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lincoln Electric Holdings Inc | NASDAQ:LECO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.64 | -0.78% | 209.84 | 209.27 | 209.84 | 214.925 | 205.46 | 211.10 | 174,998 | 16:01:08 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
(Address of principal executive offices, with zip code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Events. |
On July 31, 2024, Lincoln Electric Holdings, Inc. (the “Company”) issued a press release announcing that it has acquired Vanair Manufacturing, LLC (“Vanair”).
Vanair manufactures mobile power solutions serving the U.S. service truck market and offers the industry’s most comprehensive portfolio of mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boosters, and electrified power equipment. Vanair has an annual revenue of approximately $100 million.
A copy of the press release issued by the Company on July 31, 2024 is attached hereto as Exhibit 99.1. The press release is also available on the Company’s website at www.lincolnelectric.com.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
99.1 | Press Release dated July 31, 2024, announcing the Company’s acquisition of Vanair. | |
104 | The cover page of Lincoln Electric Holdings, Inc.’s Form 8-K is formatted in Inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LINCOLN ELECTRIC HOLDINGS, INC. | ||||||
Date: July 31, 2024 | By: | /s/ Jennifer I. Ansberry | ||||
Jennifer I. Ansberry, Executive Vice President, General Counsel & Secretary |
Exhibit 99.1
L I N C O L N E L E C T R I C H O L D I N G S , I N C .
22801 Saint Clair Avenue Cleveland, Ohio 44117 U.S.A
N E W S R E L E A S E
LINCOLN ELECTRIC ACQUIRES VANAIR®
Positions Lincoln Electric as a Leader in Mobile Power Solutions in the Maintenance and Repair Service Truck Market
CLEVELAND, Wednesday, July 31, 2024 Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced today that it has acquired Vanair Manufacturing, LLC (Vanair), a privately held, Michigan City, Indiana-based, manufacturer of mobile power solutions serving the U.S. service truck market. Vanair offers the industrys most comprehensive portfolio of mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boosters, and electrified power equipment. Their extensive equipment portfolio complements Lincoln Electrics maintenance and repair consumable offering and builds upon the joint development equipment initiatives that the two companies have been pursuing.
We are pleased to welcome the Vanair team to Lincoln Electric. Vanair is renowned for their leading high-quality manufacturing, innovation, and engineering expertise in the fast-growing maintenance and repair service truck market, commented Steven B. Hedlund, Lincoln Electrics President and Chief Executive Officer. By joining together, Lincoln Electric will capitalize on this channel opportunity to accelerate growth and broaden our technology platform for long-term value creation.
Vanairs annual revenue is approximately $100 million with a low double-digit percent EBIT margin, and their results will be reported in the Americas Welding Segment.
Forward Looking Statement
The Companys expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect managements current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as may, will, expect, intend, estimate, anticipate, believe, forecast, guidance or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Companys operating results. These risks and uncertainties include our ability to successfully integrate Vanair; our ability to achieve the expected growth from the Vanair acquisition; and the Vanair acquisition being accretive to earnings, within the expected time frame or at all. For additional discussion, see Item 1A. Risk Factors in the Companys Annual Report on Form 10-K for the year ended December 31, 2023.
1
About Lincoln Electric
Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert for its leading materials science, software development, automation engineering, and application expertise, which advance customers fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 21 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Companys website at https://www.lincolnelectric.com.
Contact
Amanda Butler
Vice President, Investor Relations & Communications
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com
Document and Entity Information |
Jul. 31, 2024 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | LINCOLN ELECTRIC HOLDINGS INC |
Amendment Flag | false |
Entity Central Index Key | 0000059527 |
Document Type | 8-K |
Document Period End Date | Jul. 31, 2024 |
Entity Incorporation State Country Code | OH |
Entity File Number | 0-1402 |
Entity Tax Identification Number | 34-1860551 |
Entity Address, Address Line One | 22801 St Clair Avenue |
Entity Address, City or Town | Cleveland |
Entity Address, State or Province | OH |
Entity Address, Postal Zip Code | 44117 |
City Area Code | (216) |
Local Phone Number | 481-8100 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Shares, without par value |
Trading Symbol | LECO |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
1 Year Lincoln Electric Chart |
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